Vikram Solar Limited – IPO
Vikram Solar Limited – IPO Details
| IPO Date | August 19, 2025 to August 21, 2025 |
| Listing Date | August 26, 2025 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 315 to ₹ 322 / Share |
| Lot Size | 45 Shares |
| Total Issue Size | 6,26,31,604 shares (Aggregating up to ₹2,079.37 Cr) |
| Fresh Issue | 4,51,80,722 shares (Aggregating up to ₹1,500.00 Cr) |
| Offer for Sale | 1,74,50,882 shares of ₹10 |
| Employee Discount | |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 31,65,36,309 shares |
| Share holding post issue | 36,17,17,031 shares |
| Market Maker portion |
Vikram Solar Limited Timeline (Tentative Schedule)
Vikram Solar Limited IPO opens on August 19, 2025, and closes on August 21, 2025.
| IPO Open Date | August 19, 2025 |
| IPO Close Date | August 21, 2025 |
| Basis of Allotment | August 22, 2025 |
| Initiation of Refunds | August 25, 2025 |
| Credit of Shares to Demat | August 25, 2025 |
| Listing Date | August 26, 2025 |
| Cut-off time for UPI mandate confirmation | August 21, 2025 |
Vikram Solar Limited IPO Lot Size
Investors can bid for a minimum of 45 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 45 | Rs.14,490 |
| Retail (Max) | 13 | 585 | Rs.188,370 |
| S-HNI (Min) | 14 | 630 | Rs.202,860 |
| S-HNI (Max) | 66 | 2,970 | Rs.956,340 |
| B-HNI (Min) | 67 | 3,015 | Rs.970,830 |
| HNI (Min) |
Vikram Solar Limited IPO Promoter Holding
| Share Holding Pre Issue | 77.64% |
| Share Holding Post Issue | 63.11% |
Vikram Solar Limited IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | Not more than 50% |
|
| NII (HNI) Shares Offered | Not less than 15% |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | Not less than 35% |
|
| Employee Shares Offered | |
|
| Total Shares Offered | |
Vikram Solar Limited IPO Anchor Investors Details
| Bid Date | |
| Shares Offered | |
| Anchor Portion Size (In Cr.) | |
| Anchor lock-in period end date for 50% shares (30 Days) | |
| Anchor lock-in period end date for remaining shares (90 Days) |
About Vikram Solar Limited
Incorporated in 2005, Vikram Solar Limited is a manufacturer of solar photovoltaic (" PV") modules.
Key Operations:
Solar Photovoltaic (PV) Module Manufacturing: Designing and manufacturing high-efficiency solar PV modules, Vikram Solar serves domestic and international markets.
Engineering, Procurement, and Construction (EPC) Services: Vikram offers integrated EPC services for solar power projects, implementing effective project management from design through commissioning.
Operations and Maintenance (O&M): Vikram Solar provides O&M services to maximize the performance and lifespan of solar power installations.
The firm's solar energy products include the following high-efficiency solar PV modules: (i) p-type monocrystalline silicon-based Passivated Emitter and Rear Contact ("PERC") modules; (ii) n-type monocrystalline silicon-based Tunnel Oxide Passivated Contact ("TOPCon") modules; and (iii) n-type monocrystalline silicon-based heterojunction technology ("HJT") modules; all of these being either bifacial (glass-to-glass/ glass-to-transparent back sheet) or monofacial (glass-to-white/black back sheet) modules.
Manufacturing facilities at:
SEZ Faltas, Kolkata, West Bengal and Oragadam, Chennai, Tamil Nadu.
Pan-India presence has been established by the company, covering 23 states and three union territories, through a wide distributor base of 41 approved distributors, 64 dealers and 67 system integrators.
The company's domestic customers comprise some of the major government organizations, including National Thermal Power Corporation, Neyveli Lignite Corporation Limited and Gujarat Industries Power Company Limited, and major private independent power producers ("IPPs"), including ACME Cleantech Solutions Pvt. Ltd.,
As of March 31, 2025, we employ 1,612 persons and 974 contractual employees.
Key Performance Indicator
The market capitalization of Vikram Solar IPO is ₹12009.01 Cr.
| KPI | Values |
|---|---|
| ROE | 16.57% |
| ROCE | 24.49% |
| Debt/Equity | 0.19 |
| RoNW | 11.26% |
| P/BV | 8.46 |
| PAT Margin (%) | 4.08% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.42 | 3.87 |
| P/E (x) | 75.16 | 85.88 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on the date of RHP and the latest FY earnings as of March 31, 2025, that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2025, which is available in RHP.
Objects of the Issue (Vikram Solar Limited IPO Objectives)
Vikram Solar Limited Contact Details
Vikram Solar Ltd. Biowonder, Unit No. 1102, 11th Floor, 789, Anandapur Main Road, Eastern Metropolitan Bypass, E.K.T, Kolkata, West Bengal, 700107 Phone: +91 33 2442 7399 Email: [email protected] Website: http://www.vikramsolar.com/ |
Vikram Solar Limited IPO Registrar
MUFG Intime India Pvt.Ltd. Phone: +91-22-4918 6270 Email: [email protected] Website: https://linkintime.co.in/Initial_Offer/public-issues.html |